Wednesday, September 28, 2005

SMM - a pure buy call

SMM retraced sharply from recent spike to 3.2s on the negative commentaries. At 3.02s, It is a bargain, given its move to increase capacity and improve locality to its major clients. Furthermore, explansion plans undertaken by its 30% owned Cosco Shipyard in China is poised to benefit from China's booming shiprepair biz.

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